Inflation in the EU is 8.8%, in Bulgaria - 13.4%

Finance | June 17, 2022, Friday // 21:51| views

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Inflation in the European Union in May set a new record and reached 8.8 percent on an annual basis, according to Eurostat, quoted by BTA. In the Euro area alone, inflation is 8.1 percent. Russia's military invasion of Ukraine has further strained global supply chains and led to higher energy and commodity prices, according to the European Statistics Office.

In 14 EU countries, inflation in May was higher on an annual basis than the European Union-wide average. Its highest level is reported in Estonia (20.1 percent). Lithuania (18.5 percent) and Latvia (16.8 percent) follow.

Bulgaria ranks fifth among EU countries in the cost of living - 13.4 percent on an annual basis. The data are according to the Harmonized Index of Consumer Prices (HICP). Our national statistics on Wednesday reported an acceleration of annual inflation to 15.6 percent in May.

In 13 EU countries, inflation in May was equal to or lower on an annual basis than the European Union-wide average (8.8 percent). Its lowest levels were in Malta (5.8 percent) and France (5.8 percent). Finland (7.1 percent) and Italy (7.3 percent) follow.

Inflation in the EU in May compared to a year earlier